Question

a sum of 20,000 is invested by honey for 2 years at an interest of 8% compounded annually find the compound interest and the amount she has to pay at the end of 2 years

Answer 1

Answer:

Amount=20000(1+8/100)^2

=20000×(1.08)^2=20000×1.1664=23328

Interest=20000×(1.08)^2-20000

=3328

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